EDI through its partner Share Data can help you to transfer and sale US and Canadian shares or funds.
The Medallion signature guarantee is a special stamp that is authenticated by a bar code and special ink that is verified by the Canadian and US transfer agents based on the value of the asset, whether it be stocks and shares or assets. If you are responsible for dealing with an estate involving Canadian or US assets, or you are attending to any other transfer of North American shares or securities, you will usually be asked to provide a medallion signature guarantee (also referred to as medallion guarantees, signatures or stamps).
These are a statutory requirement when managing the movement of securities and shares in USA and Canada and they act to limit the liability and loss by safeguarding against forged signatures.
In order to sell or transfer Canadian and/or US Securities, you are required to:
- “Guarantee” your signature before a transfer agent accepts the transaction. This is done by obtaining a Medallion Signature Guarantee Stamp.
- Sign a stock transfer form (a “Form”) or its equivalent.
Signature Guarantee programmes are operated by:
- Members of the Securities Transfer Agents Medallion Program (STAMP).
- Stock Exchange Medallion Programme (SEMP), whose participants are largely member firms of US and Canadian regional stock exchanges.
- Medallion Signature Programme (MSP), for New York Stock Exchange member firms.
EDI’s partner Share Data is a member of STAMP and as such is authorised to act for banks, solicitors, stockbrokers, accountants and individuals to:
- Obtain Medallion Signature Guarantee Stamps on your behalf.
- In most cases, offer same day turnaround of Medallion Signature Stamps.
Share Data Ltd does not need to act under a Power of Attorney in order to obtain a Medallion Signature Guarantee stamp for the sale or transfer of US or Canadian shares, as it has its own Medallion Guarantee stamp.